Main Street Capital Corporation (NYSE:MAIN) Announces Dividend of $0.30

Key Points

• Main Street Capital Corporation announced a dividend of $0.30 per share, set to be paid on September 26th to investors of record by September 22nd, with an ex-dividend date on September 19th.
• The company currently has a dividend payout ratio of 78.9%, indicating its dividend is covered by earnings, but future sustainability depends on maintaining earnings levels.
• Main Street Capital's stock has seen an increase in analyst ratings, with price targets raised by multiple firms, including Royal Bank of Canada which set a new target of $67.00, reflecting positive market sentiment.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) announced a dividend on Thursday, September 18th, investing.com reports. Investors of record on Monday, September 22nd will be given a dividend of 0.30 per share by the financial services provider on Friday, September 26th. This represents a yield of 635.0%. The ex-dividend date is Friday, September 19th.

Main Street Capital has a dividend payout ratio of 78.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect Main Street Capital to earn $4.06 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Stock Performance

Main Street Capital stock traded up $0.33 during mid-day trading on Thursday, reaching $66.12. 853,830 shares of the stock traded hands, compared to its average volume of 475,132. The stock has a market capitalization of $5.91 billion, a PE ratio of 10.89 and a beta of 0.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Main Street Capital has a 12-month low of $47.00 and a 12-month high of $67.77. The business's 50-day moving average is $65.29 and its 200-day moving average is $59.28.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting analysts' consensus estimates of $0.99. The company had revenue of $143.97 million during the quarter, compared to analysts' expectations of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. As a group, sell-side analysts predict that Main Street Capital will post 4.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MAIN has been the subject of a number of research reports. Royal Bank Of Canada upped their price objective on Main Street Capital from $52.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Wall Street Zen raised Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Truist Financial boosted their price target on Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a report on Monday, August 11th. Zacks Research raised Main Street Capital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Finally, UBS Group reissued a "neutral" rating and set a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Main Street Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

About Main Street Capital

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.

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